All HMV Stores To Be Sold Next Week

The fate of UK music retailer HMV will be decided by next week, when all remaining stores will be sold to bidders. But who is in the running to buy it, and will they keep HMV alive?

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The HMV story is coming to a close, with its administrator confirming that all UK stores will be sold by March 25.

HMV has been a landmark on the UK high street for over 100 years and remains the only nationwide music retailer, but in January announced that it would be forced into administration because it owed £347 million ($523 million) in debts, putting 4, 000 jobs at risk.

There's still a chance it will survive as a music store. HMV Canada, which is a separate company and has turn the Canada branch of HMV into a successful chain despite the recession, has put in a bid and will attempt to revive the music chain.

Other bidders include supermarket chains, with one supermarket already snapping up six stores in premium locations.

Many dedicated HMV staff have lost their jobs at the company. At one point, an angry staff member who was among 60 being fired decided to hijack the official HMV twitter account to tell over 66,000 followers about their dismissal in real-time. At one point they tweeted "Just overheard our Marketing Director ask 'How do I shut down Twitter?'"

Do you think a music retailer like HMV can survive with the right leadership, or is it too late to compete in a market of digital web stores and mobile devices? Let us know what you think in the comments.

8 comments sorted by best / new / date

    -Retro-
    I'm really gonna miss HMV, now I have to preorder new albums on Amazon, and more than often they show up two to three days late.
    no1sister
    get over the "HMV charges too much" thing...what do you expect if you want to shop for your CDs on the high street?! Now that the self fulfilling prophecy has come true shut up, move on and STOP kicking the dog when he's down...
    Ben2k9
    I boycotted that place when they changed their staff policies about having long hair and tattoos, to appear to a "wider target market" ****in discrimination, good riddence if you ask me.
    Ben2k9
    lol i'm seriously getting downvoted?? lol so much for equality...they changed their work policy so no males with long hair or tattoos can work there, and no females with brightly coloured hair or tattoos, and they had to wear trousers. Welcome to the 21st century where prejudice evidently still rules...
    RadioTape
    I feel sorry for the employees but that's what happens when you charge too much and have no competitors.
    Kinths
    Having worked are HMV a few years ago most of them have known this was coming for a while. There was only one store in our region that was actually making a profit.
    zeroceid
    Luckily I still have a really cool indie record store where I live, which was always cheaper than HMV and always take the effort to order anything you want in!
    Kinths
    I would like to think this would lead to more independent record stores of old opening up but it's pretty unlikely